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Global Residential Hobs Market to reach USD 25.19 billion by 2028

Global Residential Hobs Market Size study, by Product (Gas hobs, Induction hobs), by Price (Low range, Medium range, High range) and Regional Forecasts 2022-2028

Product Code: OIRCGS-13771050
Publish Date: 30-04-2022
Page: 200

Global Residential Hobs Market is valued at approximately USD 16 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.7 % over the forecast period 2022-2028. Residential Hobs is a permanent gas stove that is level with the kitchen countertop. This is done by making a cutout within the countertop to place the built-in hob and fixing it with screws. Additionally, the gas pipes and electrical wires are concealed, so as to impart a clutter-free look to the kitchen. The increase in disposable income and increase in the number of new household construction has led to the adoption of Residential Hobs across the forecast period. For Instance: As per IBEF by 2040, the real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021, and contribute 13% to the country’s GDP by 2025. Also, with the presence of a large number of regional and multinational companies and growing awareness about the energy efficiency of the product, the adoption & demand for Residential Hobs is likely to increase the market growth during the forecast period. However, Product sustainability and high price of the product impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global Residential Hobs Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the technological advancements, presence of a large number of regional and multinational companies. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2022-2028. Factors such as increase in disposable income would create lucrative growth prospects for the Residential Hobs Market across Asia-Pacific region.

Major market players included in this report are:
Arcelik A.S
Whirlpool Corporation
AB Electrolux
Samsung Electronics Co. Ltd.
Midea Group Co., Ltd.
Siemens AG
Robert Bosch GmbH.
Haier Group Corporation
Miele & Cie. Kg
Panasonic Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Gas hobs
Induction hobs
By Price:
Low range
Medium range
High range
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Residential Hobs Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Residential Hobs Market, by Region, 2020-2028 (USD Billion)
1.2.2. Residential Hobs Market, by Product, 2020-2028 (USD Billion)
1.2.3. Residential Hobs Market, by Price, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Residential Hobs Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Residential Hobs Market Dynamics
3.1. Residential Hobs Market Impact Analysis (2020-2028)
3.1.1. Market Drivers Increase in disposable income Increase in the number of new household construction
3.1.2. Market Challenges Product sustainability High price of the product
3.1.3. Market Opportunities Presence of a large number of regional and multinational companies Growing awareness about the energy efficiency of the product
Chapter 4. Global Residential Hobs Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2019-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Residential Hobs Market, by Product
6.1. Market Snapshot
6.2. Global Residential Hobs Market by Product, Performance – Potential Analysis
6.3. Global Residential Hobs Market Estimates & Forecasts by Product, 2019-2028 (USD Billion)
6.4. Residential Hobs Market, Sub Segment Analysis
6.4.1. Gas hobs
6.4.2. Induction hobs
Chapter 7. Global Residential Hobs Market, by Price
7.1. Market Snapshot
7.2. Global Residential Hobs Market by Price, Performance – Potential Analysis
7.3. Global Residential Hobs Market Estimates & Forecasts by Price, 2019-2028 (USD Billion)
7.4. Residential Hobs Market, Sub Segment Analysis
7.4.1. Low range
7.4.2. Medium range
7.4.3. High range
Chapter 8. Global Residential Hobs Market, Regional Analysis
8.1. Residential Hobs Market, Regional Market Snapshot
8.2. North America Residential Hobs Market
8.2.1. U.S. Residential Hobs Market Product breakdown estimates & forecasts, 2019-2028 Price breakdown estimates & forecasts, 2019-2028
8.2.2. Canada Residential Hobs Market
8.3. Europe Residential Hobs Market Snapshot
8.3.1. U.K. Residential Hobs Market
8.3.2. Germany Residential Hobs Market
8.3.3. France Residential Hobs Market
8.3.4. Spain Residential Hobs Market
8.3.5. Italy Residential Hobs Market
8.3.6. Rest of Europe Residential Hobs Market
8.4. Asia-Pacific Residential Hobs Market Snapshot
8.4.1. China Residential Hobs Market
8.4.2. India Residential Hobs Market
8.4.3. Japan Residential Hobs Market
8.4.4. Australia Residential Hobs Market
8.4.5. South Korea Residential Hobs Market
8.4.6. Rest of Asia Pacific Residential Hobs Market
8.5. Latin America Residential Hobs Market Snapshot
8.5.1. Brazil Residential Hobs Market
8.5.2. Mexico Residential Hobs Market
8.6. Rest of The World Residential Hobs Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Arcelik A.S Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Whirlpool Corporation
9.2.3. AB Electrolux
9.2.4. Samsung Electronics Co. Ltd.
9.2.5. Midea Group Co., Ltd.
9.2.6. Siemens AG
9.2.7. Robert Bosch GmbH.
9.2.8. Haier Group Corporation
9.2.9. Miele & Cie. Kg
9.2.10. Panasonic Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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